Mobile app growth soars in Asia
App Annie has reported mobile app download growth soared by 60% in Vietnam, 50% in India and 40% in Indonesia in 2015. The challenge is in generating revenue from a mobile app in SE Asia where most e-commerce remains cash on delivery. Consumer use of credit cards in these emerging markets in Asia is low, the banked population being largely limited to salary transaction accounts.
Consumers in these Asian economies may well leapfrog credit cards and move directly to mobile payment services but the regulatory and infrastructure development in nascent today. Mobile apps in these markets have limited opportunities to monetise (for example from yet niche mobile advertising spend). This in turn stifles local development and investment. Consumers are smart phone armed and ready to engage on mobile today. When the financial infrastructure and consumer willingness to engage in mobile payments will enable this to be profitable, remains to be seen.
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